A credit union is a member-owned financial institution organized to encourage savings and to provide loans with competitively low interest rates to members. In Montana as elsewhere, credit unions have evolved into sophisticated financial institutions offering members a variety of services.
There are detailed requirements for the formation of credit unions. Because of the complexity of these laws, an organization seeking to set up a credit union needs expert assistance. It is often easier to join an existing credit union than to start a new one.
Advice and assistance are available from:
Montana Division of Banking and Financial Institutions
301 South Park, Suite 316
P.O. Box 200546
Helena, MT 59620
Montana Credit Union Network
1236 Helena Avenue
Helena, MT 59601